Assignment Event means the occurrence of any of the following:
Assignment Event shall have occurred if (a) Lender ceases doing business or Lender's existence is terminated by sale, dissolution, merger or otherwise, (b) any assignment is made for the benefit of Lender's creditors, (c) any receiver of Lender is appointed, (d) any insolvency, liquidation or reorganization proceeding under the U.S. Bankruptcy Code or otherwise shall be filed by or against Lender, or (e) an event of default shall have occurred under, and the payment of any indebtedness of Lender shall have been accelerated under, the terms of any loan agreement pursuant to which Lender has incurred debt. Upon an Assignment Event, Lender shall execute and deliver or cause to be executed and delivered such further instruments of conveyance, assignment and transfer and shall take such other action as Participant may reasonably request to give effect to the foregoing assignment.
Assignment Event has the meaning set forth in Section 4.07(a).
Examples of Assignment Event in a sentence
The NCPCS and SubNotes cannot be traded separately until an Assignment Event occurs.
Upon an Assignment Event, Lender shall execute and deliver or cause to be executed and delivered such further instruments of conveyance, assignment and transfer and shall take such other action as Participant may reasonably request to give effect to the foregoing assignment.
Lender hereby assigns and transfers to Participant all right, title and interest of Lender, if any, in and to Participant's Participation interest in the Participation Loan; provided, however, that, notwithstanding anything to the contrary herein, such assignment shall become effective only upon the occurrence of an Assignment Event (as defined below).
The first Dividend Period for the first Dividend payable on those Preference Shares will commence from (and excluding) the last Interest Payment Date on or prior to the Assignment Event Date.Westpac will make an announcement to ASX that the Assignee has taken assignment of Notes as soon as reasonably practicable following that occurring.
Distributions paid to Holders will consist of Interest on Notes until an Assignment Event occurs.
More Definitions of Assignment Event
Assignment Event. The 30th day following either (i) the occurrence and ---------------- continuance of an Event of Default, (ii) the reduction of the Seller's long- term unsecured debt rating below "____" by Moody's or "___" by Standard & Poor's or (iii) the suspension, termination or withdrawal of the Seller's long-term unsecured debt rating by Moody's or Standard & Poor's.
Assignment Event. The 30th day following either (i) the Seller's long-term unsecured debt rating being reduced to below "A2" by Moodx'x Xxxestors Service, Inc. or (ii) the suspension, termination or withdrawal of the Seller's long-term unsecured debt rating by Moodx'x Xxxestors Service, Inc. (provided, however, that if such suspension, termination or withdrawal is for reasons other than credit reasons, the Seller shall have 90 days to provide a substitute rating agency acceptable to the Trustee).
Assignment Event. The 15th day following the day on which the senior, unsecured long-term debt rating of AGFC is less than "Baa3" by Moody's or "BBB-" by S&P.
Assignment Event. As defined in the Asset Sale Agreement.
Assignment Event. The occurrence of any of the following (unless otherwise waived by the Certificate Insurer): (i) an Event of Default occurs and continues for 30 days; (ii) FUNB's long-term unsecured debt rating is reduced below A2 by Moody's or A by S&P; (iii) the suspension, termination or withdrawax xx XXNB's long-term unsecured debt rating by Moody's and S&P's; (iv) (a) the Representative's stockholders' equixx xxxxrted in accordance with generally accepted accounting principles is less than $5,000,000 as of the end of any fiscal quarter beginning September 30, 1998; or (b) the Representative is in default of any material financial obligation; (v) a lease agreement acceptable to the Certificate Insurer (the "Lease") between the Custodian, as lessee and the Representative, as lessor with respect to the space on the Representative's premises where the Custodian holds the Trustee's Mortgage Files (the "On-Site Custodial Space") is not executed within 60 days following the Closing Date; (vi) any of the facts set forth in the Officer's Certificate of the Custodian and the Representative dated as of August 20, 1998, describing the initial custodial arrangement with respect to the Trustee's Mortgage Files (the "On-Site Custodial Arrangement") become untrue in a material and adverse manner; (vii) the rating on the Pool I and Pool II Certificates (without regard to the Certificate Insurance Policies) is downgraded below BBB by S&P or Baa2 by Moody's; (viii) so long as the Custodian holds any of the Trustee's Xxxxxxge Files at the on-site custodial space, any event of default shall have occurred and is continuing under the Lease, the Lease is not in effect, or the Lease is deemed unenforceable against either party thereto or (ix) FUNB is no longer acting as Custodian.
Assignment Event. OHC's long term unsecured senior debt rating is below "Baa3" by Moody's or "BBB-" by Standard & Poor's or is withdrawn by Moody's or Standard & Poor's.
Assignment Event. With respect to each Home Loan, the fifth Business Day following the earliest to occur of (i) the Conversion Date; (ii) the Servicer fails to satisfy the Net Worth Requirement; or (iii) the Note Insurer delivering a written request to the Seller to record the Assignments of Mortgage with respect to each Home Loan, with such request specifying that the Note Insurer is making such request because the Note Insurer has determined, in its reasonable judgment, that such recordation is necessary to protect the Note Insurer's interest with respect to the Home Loans because (x) a Material Adverse Change has occurred with respect to the Seller, (y) the Note Insurer has been so advised by its counsel as a result of a change that occurred after the Closing Date in applicable law or the interpretation thereof or (z) the aggregate of the Principal Balances of all delinquent Home Loans for which all or any portion of a Monthly Payment is 30 or more days past due exceeds 5% of the Pool Principal Balance as of the Determination Date, and in any such case specifying the basis for such determination in reasonable detail. With respect to a particular Home Loan, the insolvency of the related Obligor.